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Re:Tech layoffs keep stacking up by themitigating on Friday July 01, 2022 @10:57AM (#31947262)
I find those to be exceptions to most companies in our economy. Construction of housing, food, medicine, water, army/police are your base levels.

An NFT marketplace is a similar to gambling or derivatives. The value is potential income for people.

Re:Tech layoffs keep stacking up by mellavora on Friday July 01, 2022 @11:06AM (#31947391)
"value" is an ambiguous word. I think you understand it as "something people are willing to put money into", which certainly covers gambling.

Another definition of "value" is something which increased the economic output, a positive-sum game. Thus gambling (which is zero-sum) does not create value.

Derivatives do create value in the second sense, in that they can be used to protect against risk, thus creating value (or allowing the creation of value). Yes, they can also be used for the equivalent of gambling, but they have additional uses.

Re:Tech layoffs keep stacking up by andsoitis on Friday July 01, 2022 @03:49PM (#31951807)
> An NFT marketplace is a similar to gambling or derivatives.

Derivatives have real utility.

Re:Tech layoffs keep stacking up by wpietri on Friday July 01, 2022 @12:52PM (#31949243)
Just to be clear, gambling is a net societal negative. For every dollar that goes in, less than a dollar in income comes out. It's going to happen, but let's not pretend that it's value-creating.